How do I record rent paid for a year?

You can record your paid rent through Expense or Check, Nwaele. Allow me to show you the steps on how record it.

If you're the one who paid your vendor the rent, you can create an expense or check and lump sum it.

Here's how:

1. Go to the +New icon, then select Expense or Check. 
2. Enter the vendor who you paid to under the Payee section.
3. You can add a new payee by clicking the + Add New.
4. On the Category details section, enter the amount of the rent.
5. Once done, click Save and close.

However, if your customer is the one who paid the rent to you, you can record a retainer or deposit in QBO. Before that, you'll need to create a Liability account to track the amount of retainers you receive from your customers.

Here's how:

1. Go to the Gear icon, then select Chart of accounts.
2. Select New.
3. From the Account Type dropdown, select Other Current Liabilities.
4. In the Detail Type dropdown, choose Trust Accounts-Liabilities.
5. Enter a name for the account.
6. Select the option from the When do you want to start tracking your finances from the is account in QuickBooks? dropdown list.
7. Click Save and close.

After creating a liability account, proceed to create a retainer item.

Here's how:

1. Go to the Gear icon, then select Products and Service.
2. Select New. 
3. From the Product/Service information panel, select Service.
4. Enter a name for the new item.
5. From the Income account dropdown, select the liability account you just created.
6. Click Save and close.

You can refer to this article to continue in creating the rest of the steps in creating a retainer: Record a retainer or deposit.

Also, if you had an agreement that the rent will be paid on a monthly basis, but you paid the rent in full amount for one payment only, you can create an asset account, enter the original payment there, set up a recurring payment scheduled  for a monthly basis.

Additionally, you can refer to this article to know more about managing vendor refund and maintain financial record seamlessly: Void or refund customer payments in QBO.

Should you have any more questions or need further clarification, don’t hesitate to reach out. Your financial management is important, and I'm here to support you every step of the way. Take care.